Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Summary of balance sheet fair values

All financial instruments of the Company are reflected in the accompanying Consolidated Balance Sheets at amounts which, in management's estimation, reasonably approximate their fair values, except for the following:

	March 31, 2019			December 31, 2018
(in thousands)	Carrying Amount		Fair Value	Carrying Amount		Fair Value
Financial liabilities:
Notes payable	$	3,009,886	3,066,580	$	3,006,478	2,961,769
Unsecured credit facilities	$	673,852	675,769	$	708,734	710,902

Summary of assets measured on recurring basis

The following tables present the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis:

	Fair Value Measurements as of March 31, 2019
(in thousands)				Quoted Prices in Active Markets for Identical Assets	Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:	Balance			(Level 1)	(Level 2)		(Level 3)
Securities	$	36,318		36,318	—		—
Available-for-sale debt securities	8,082			—	8,082		—
Interest rate derivatives	11,909			—	11,909		—
Total	$	56,309		36,318	19,991		—
Liabilities:
Interest rate derivatives	$	(224	)	—	(224	)	—

	Fair Value Measurements as of December 31, 2018
(in thousands)				Quoted Prices in Active Markets for Identical Assets	Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:	Balance			(Level 1)	(Level 2)		(Level 3)
Securities	$	33,354		33,354	—		—
Available-for-sale debt securities	7,933			—	7,933		—
Interest rate derivatives	17,482			—	17,482		—
Total	$	58,769		33,354	25,415		—
Liabilities:
Interest rate derivatives	$	(5,491	)	—	(5,491	)	—